The entire world is aware of the Russian invasion of Ukraine and the massive war and more news related to it. If you kept yourself updated about the war last year, you must have heard about the Black Sea Grain Initiative in the news or read online. Finalised in 2022, the last effective date of this wartime deal is already here. To know about the agreement between countries, read on.
What Is The Black Sea Grain Initiative? How Is It Impacting The Food Supply?
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- The United Nations and Turkey brokered a deal between Russia and Ukraine known as Black Sea Grain Initiative. During the Russia-Ukraine war last year, this agreement was made on 22 July 2022.
- The deal is effective till 17 July 2023, Monday.
- With this initiative, Ukraine got the allowance to export different types of food to several parts of the world. According to the agreement, Ukraine ports began exporting a total of 32.9 million metric tons of food, including grain starting in August 2022.
- There were huge amounts of ingredients that were simply lodged in Ukraine. And the Black Sea Grain Initiative allowed Ukraine to export all these food items mostly to countries with lower-income ranges and facing poverty. This turned out to be a major help in decreasing the prices of many food items as the war led to a huge spike in food.
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Further Points About The Deal:
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- The initiative ensures that there will be no attacks on the cargo ships carrying grain and other food from ports in Ukraine and entering the country. In fact, officials from Russia, Ukraine, Turkey, and United Nations evaluated and checked the ships.
- The timeline of the agreement is supposed to be increased once every four months. From the initiation to now, the renewal process took place thrice. Except for the first renewal, the next two lasted for a duration of two months each, according to a report by Economic Times- India Times.
- Moscow is now unlikely to lengthen the deal period now. Vladimir Putin, the President of Russia, stated that the Russian capital will not extend the agreement if all their demands are not taken care of.
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Will This Decision Affect The World?
- If the renewal of the deal does not take place, it can turn out to be a major problem for many countries. There are many countries that rely on imported products and they are likely to face some issues. Also, countries dealing with poverty and low income will once again need to buy food at a higher cost.
- If Ukraine cannot export ingredients from this route, it will need to depend on other routes. These other options come with a few setbacks.
What are your opinions on the present situation of the Black Sea Grain Initiative?
Cover Image Courtesy: Canva
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